On payment of all of its indebtedness, the authority shall convey all of its assets to the county, without cost to the county. On this conveyance, the authority is dissolved.
Tex. Loc. Gov't Code § 293.034
TRANSFER OF ASSETS TO COUNTY; DISSOLUTION
Known as the County Building Authority Act
The act spans §§ 293.001 to 293.056 (24 sections).
Acts 1987, 70th Leg., ch. 149, Sec. 1, eff
Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.